and to the many folks in the audience, the many members of the city family and regional partners who we work with on a daily basis, and now, it is my great pleasure to introduce the mayor of the city and county of san francisco, the honorable gavin newsom. [applause] mayor newsom: thank you all for being here. i could not hear a word that jack just said because i'm sitting next to the flag, but obviously, it shows who is expandable up here, the person sitting on this side of the stage, but let me welcome speaker of the house nancy pelosi and secretary mavis and all the people that helped make this day possible. welcome and thank you for your leadership and your stewardship, to mayor willie brown and all of his hard work. his then staffer, now my staffer, who worked so diligently through two administrations to get us

through this day. i thank you. to the development team. to the residents of this island that have been patient beyond imagination. with the hope and expectation we would get to this point. to all those that are looking forward to the ground breaking to be hosted some time next year. it is pretty remarkable -- this is a small city, and about 10% of our land happens to be on three principal areas. all three of them former naval bases. out there in hunters point. the army out on presidio, and here on treasure island. 25-plus-hundred acres in the '70s -- the 1970's, 1980's, 1990's. since then, we have been

talking about revitalization. we have been talking about reconstituting these pieces of property. just two weeks ago i had the pleasure and privilege of signing 12 pieces of legislation, marking over the course of over two decades over the course of hunters point. creating a framework on an economic development framework for 10,500 new housing units, 32% of them below market. hundreds of thousands of square feet of new retail space. yes, a new stadium for somebody someday as well as revitalizing the county, which is long overdue. this was an extraordinary moment, and here we are just a couple weeks later celebrating another extraordinary and historic moment. we have been talking about this since 1993, informal process

that began this. the formal negotiations in 1994. the navy ceased operations formally here in about 1997. we are standing, remarkably, on awpa project -- on a wpa project were folks started taking land and rocks and putting this project out here. then, it was supposed to be converted. you can only imagine, as an airport. luckily, there was some wisdom, and that vision did not take shape, but for over half a century, the navy has been out here doing administrative work and training work, and we have been figuring out what exactly to do in the last decade and a half. we could not do it alone. we needed to work with the navy. we needed the process of an agreement. we needed a private partner, and we worked to gain that support, but it was not easy because this is a different era,

appropriately, where you cannot just take a dollar bill out of your left pocket and handed to the secretary of the navy and say, open a " thank you for the property" and walk away and start to develop it. we needed to create a different framework with a participation agreement. what we're celebrating here is a long negotiation where we developed a strong partnership with the navy and the private developers, where if we do well in the city, if the developer does well, then the navy does well. our federal taxpayers do well. we have a participation agreement that in many ways we think will become a model for other similar agreements across the country. it was not easy to put together, but we are here today to celebrate that agreement. we are here today to celebrate a two-page term sheet that the secretary, myself, the speaker, and others agreed to in december of last year that now is about and 80-page legal document, and financial framework for the future of this site, and we are

here to celebrate that we're just months away from some time next year developing literally thousands of jobs. 30% of the units below market. another 300 acres of open space. the wetlands. a new ferry terminal source, smaller version. a new waterfront. the most aggressive environmental policy organized around sustainable development that will allow this to be arguably the most environmentally friendly in field development in american history. it is an extraordinary vision and extraordinary project that will also ultimately include wind generation, surprisingly, and some state of the our efforts, and we hope eventually, that waves power project we have here off the coast will also play a key role in terms of the cogeneration and generation of renewals that will mark and distinguish this great read of

elements. that is why i'm here -- to give thanks and gratitude for all the work hard to get us here. i want to thank those just once again, the secretary, for his willingness to think differently and look differently at this project. this project was dead many many times, but it was because of his willingness to look at this in a new light and consider things that previous secretaries of the navy had not considered because of the great work of his staff and both the department of defense and because, more importantly, of the incredible commitment, not just passing interest, speaker ned to pelosi, who started this thing through three presidential administrations, secretaries of navy, mayors like me that come and go, members of the board of supervisors, treasure island development authority that stuck it out for all this time. to nancy pelosi, thank you yet

again. what a remarkable effort. you deserve an enormous amount of credit. we thank you. we are proud of you. this is a big deal. on top of that, hunters point, which was a big deal. trans a terminal, doyle drive, the bay bridge. this is just getting things done. it is my honor now to ask up to the podium a fan of major-league baseball, who took the time to come out here a day on early and visit with the giants. they did not have the kind of day we were hoping on sunday, but someone who is very familiar with san francisco that has opened up his heart, of sorts, and his mind and his team to this effort, and someone that i can, we simply want to be here without -- we simply would not

be here without his resolve to get us here. [applause] >> what a great day, and what a great introduction. i'm coming back, and next time, lister is going to win. [applause] i'm so happy to be here today with this group of people up here and out here. the culmination of almost two decades of very hard work has come to pass today as the navy officially transfers treasure island to the city and the people of san francisco. we owe an absolute heartfelt thanks to the people who have

worked so hard to achieve this goal. two of the people who have worked the hardest, and two people that it has been my privilege to work closely with, are sitting here today. speaker nancy pelosi, mayor gavin newsom. the mayor said some mighty nice things about me, but i tell you -- this would not have happened without the speaker and the mayor. i had been navy secretary about 10 minutes when the speaker called and said, "can we do something about treasure island?" i went up and talked to her, and and i talked to the mayor, and it was a group effort, a team effort, and we stood on the work that other people have done, and a couple of those folks are here today. mayor willie brown, and my

predecessor as secretary of the navy, both of whom were here when this process started, and both of whom live the groundwork for what we are able to do here today, so thank you. united states navy in association with treasure island began 70 years ago, right after the completion of world expo, 1939-1940. the navy took this over, and from these shores, tens of thousands of sailors and marines left the fight in the pacific in world war ii, and a lot of those sailors and marines who left from here, this was the last time they saw america, and they made the ultimate sacrifice for us. as we transfer this treasure, this island, from the navy back

to the city, i hope that all of us will remember the service and sacrifice of every sailor, every marine, living and dead. [applause] and the people who left from here and the people who serve today, risking everything, so that we can celebrate today. that legacy lives on in the young men and women who wear the cloth of this country and who are deployed around the world as we meet here today. when the famous or infamous bates 3 aligning closure process started in 1988, a final result of any individual base closure and transfer could not

have hoped for a better ultimate outcome than what has been achieved in treasure island. the navy's charge is to dispose of property in a manner that promotes economic development. that has been done. the transfer of treasure island is a win for san francisco. it is a win for the state of california, a win for the united states navy, and a win for the american taxpayers who paid for this base and all the infrastructure that was here. because of this transfer, the american taxpayer gets fair market value for treasure island. because of this transfer, hundreds of millions of dollars of economic development will flow into the city of san francisco and into this whole area, and because of this transfer, treasure island will bring thousands of great jobs right here.

first, as new buildings are built, and then, as this island more and more and this new development becomes an ongoing an integral part to the city of san francisco. for our part, the mayor said the navy is going to get significant rewards by sharing a portion of the revenues, which could in turn be used to make sure that our sailors and marines have the tools that they need to do the mission that they are being sent on. i am incredibly grateful to two fine public servants -- mayor newsom and his staff, speaker pelosi and hers, and the entire california congressional delegation for their commitment to resolving this transfer. speaker pelosi has been working

on this issue since her very early years in congress, and over the years, even though negotiations have sometimes been difficult, the speaker has always had the best interest of the city, of the state, of the navy, and of the nation at heart. what we have achieved here can serve as a template for future transfers of military bases across the country. i am also very grateful to the speaker for her leadership on energy and on energy legislation and for her commitment, along with the president, to change the way we use and produce energy in the united states and building toward a new energy economy. it is of tremendous importance, the way we produce energy and the way we use it, to the navy and marine corps because how we power our ships and our aircraft fundamentally about national security, just as

energy reform for the country at large is about energy independence, national security, as well as about economic development and job creation. here on treasure island is -- as the mayor so eloquently pointed out, there is an opportunity to demonstrate what happens when sustainable development and sustainable usage is considered from the very beginning of a project. here on treasure island, there is an opportunity to build a working model of the president's new energy future, and because of the leadership of the public servants who stand here today, i look forward to seeing that model become an example for the rest of the country to follow. thank you so much for being with us today. it is my incredible honor and pleasure to introduce to you your native daughter, the speaker of the united states house of representatives, nancy

pelosi. [applause] >> thank you, mr. secretary. thank you all. thank you, mr. mayor. what an honor it is for us to welcome the secretary of the navy to treasure island for this very important occasion. he is a live long public servant -- governor, ambassador, and secretary. he has focused on critical issues facing our nation's education and national security, currently leading our efforts to restore the gulf region, but as an ambassador to saudi arabia, governor of mississippi, person committed to a better future for america, he sees the connection of all of these issues. i appreciate your leadership. i thank you for acknowledging that the military is one of the biggest users of energy in our

country. and thank you for your leadership in connecting the military with energy efficiency. it is a national security issue for sure. i want to join you in welcoming one of your predecessors, secretary dalton, here today. we stand on your shoulders and those of willie brown, for the foundation that was late for us to go forward. when we finally got a president, i will be frank, who finally understood the city of treasure island. it should not have been so hard to explain, but for some reason, it was. we were ready with new leadership to capture the opportunity. thank you for your work under mayer brown, and now, mayor news of. mr. mayer, you know that when we started these meetings, we were practically writing to each other on stone tablets. it seems it was that long ago. and i leading up to our

teleconferencing. when the mayor was not in washington advocating for the city of san francisco and this initiative in particular, i would walk into the room, and there he would be. there he is on the screen, advocating for san francisco and these issues in particular. because, as the mayor indicated, he said the city is 47 square miles. tiny city. my district is 32 square miles within the city of san francisco, and all three, mr. secretary, of those military bases are contained in this 32 square miles. the presidio, the hunters point naval shipyard, and treasure island. naval shipyard has long been on the closure list, but the presidio and treasure island came in the late 1980's. first, we fought the closure,

and then we accepted our fate and had a transition, and i appreciate the secretary saying that the model a country on how we go forward. the mayor, his leadership has been relentless on behalf of this project. there brown was similarly relentless, and that is why when we had a new president, we were ready. michael, thank you for your leadership. thank you for your work and your leadership as director of drug development of san francisco, because that -- zap worked so hard to make all of this possible. i wanted to make sure that they were recognized, but there are so many other partners who have

not been acknowledged, and i associate myself with the remarks made in praise of them. from the beginning of world war ii, treasure island served as a critical base for the united states navy. hunters point, presidio, treasure island -- how proud san francisco has been with our association with our men and women in uniform and the role they all play make us the home of the brave and the land of the free. but when the closure commission came along and decided our fate -- as i said, at first, we resisted, and then, we use our imagination. we wanted to be respectful because during the war, this is a center for receiving training and deploying members of our military serving in the pacific theater, as the secretary said so beautifully. some see this as their last view

of america after they went off to war. in the decades that followed, the navy continued to train service members here as this facility became a crossroad for sailors and marines, those on their way to the cross pacific, and those coming home. when the base was set to close, leaders of this city and its representatives in congress recognized the potential for treasure island to remain a vital piece of our region poses success and future. today on the basis of this great history, treasure island officially entered its next chapter, this time as a center for jobs and economic development. thanks to the agreement, we can now move forward on plans to build essential infrastructure, open space and parks, hotels and housing for local residents, and

very respectful of the residents who are already here. thank you for being with us today. remaking treasure island will mean significant contributions to indiana sets -- industry central, san francisco's economic vitality, tourism, retail, restaurant, and entertainment, and manufacturing. this project is of innovative practices to extend our leadership and sustainability. the mayor and secretary have already mentioned them. green building standards, congested management, innovative storm water treatment, and infrastructure that the uses energy use, and it marks another step forward in our drive to transform former military installations like the presidio and hunters point, into centers of commerce that generate jobs and strengthen our community. perhaps most significant of all, this project means critical

investment and benefits for our city and our region's economy. more than $5 billion in public and private investment. nearly 3000 permanent jobs, five times the number of the 1 billion jobs that existed when the banks close. just before the banks closed, it had 1/5 of the number of civilian jobs it will have as we go forward. 2000 temporary jobs per year during construction, and up to 8000 new residential units, 30% of which will be offered at rates affordable for low and middle income families. all three of us have touched on this. we want you to know that is the commitment. in the wake of a deep economic crisis that took a toll on so many in san francisco bay area and across the country, these forthcoming economic benefits

could not come at a better time, and they will provide a welcome boost to our city's economy and the entire region. this transfer of the space took a team effort between all of us -- to a team effort. all of us wanted to have the best possible agreement, not only for san francisco and the bay area, but for the u.s. taxpayer, which everyone here is, so this is about your money and your community. let's do this in the best possible way. it is a low priority for all of us in the office here, and i want to commend senator feinstein and boxer for all of their leadership to help procure an agreement to help transfer this land. partnered with mayer brown earlier, and now with mayor

newsom, to keep the city's interest front and center. they were great leaders. and with the governor to engage key republican members of the house on services committee. i do not know if anyone was here from the state, but i thank the governor for the help with republican members. those republican members joined our chairman to include provisions in last year's defense bill to expedite overdue based transfers, collaborating with the house armed services committee to add flexibility regarding compensation for land value to start the process of igniting economic growth here and in communities nationwide. again, in what we were requesting, not only did we benefit because we had the legislation, but it benefited other communities around the country. treasure island's routes have remained firmly planted through

our nation's navy. now, those routes will go deeper, providing a foundation for growth, prosperity, and opportunity for our economy. today, i'm very honored to be joining mayor gavin newsom. again, without his leadership, this would not have been possible. he was relentless, as he always is. using all the new technologies to make sure that we were never off the radar, grid, or any other screen in terms of moving this along. again, as i said, the foundation that was led by previous scenarios. now, these roots go deeper, and it is a sign of signing this endorsement agreement today, we ensure that this site will remain a source of jobs for our community for decades to come. all of you who played a role in this should take great

satisfaction that part of your legacy of public service went to something that the mayor calls a big deal, a very big deal for our community, for our country. in closing, i just want to salute the navy for keeping treasure island safe for us so that we could come to this day of transition to civilian use that is also a sign of the strength of our country. thank you all very much. [applause] >> thank you. i would also like to acknowledge the tremendous partnership that we have had in the department of defense. the folks in the navy's office that we work with on a daily basis, some of whom are here,

some are not. i would now like to invite you to the table to my left to commemorate with your signature the historic agreement for the transfer, formal mail station trichet -- treasure island for the city and county of san francisco.

[applause] >> ladies and gentlemen, that concludes our program. thank you so much for being here today. we hope that you will join us for a reception, which is in a building just to our right. it is a short walk. this says there are staff from the mayor's office who will be along the way to help you get there, and we hope to see you over there. thank you again for joining us ons